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To: rupert1 who wrote (31885)	8/30/1998 4:44:00 PM
From: FR1	Respond to of 97611

But it is hard to believe that Japan has not been woken up by now. IMHO, The Japanese got the message a long time ago. The reason they are not forcing the banks and financial institutions to fully disclose is that the bad loans, to a large measure, are made to the politicians in office. It's like asking someone to commit suicide. They are dragging everything out as long as possible, hoping the usa and europe will bring the world back up and then they can cover the bad debt somehow behind closed doors. Think of all the times you heard of them buying massive real estate deals, like Rockefeller Plaza and Pearl Harbor, only to sell them back at huge losses. The stories from Las Vegas about the "whales" (gone now) that would lose millions in a gambling weekends on a regular basis. The deals where brokerage houses would guarantee big name investors X% return on their money and pay large sums to gangsters for not disrupting public company meetings. Ques. Where do all the loans and money come from? Ans. From banks and brokerage houses that are not subject to public disclosure. Everybody knows they are neck deep in bad paper. Passing laws that force public disclosure, exposing all the bad debt, and handling the problem like we did the Savings & Loan problem in the 80s is the way to go but if I was a politician it would be the last thing I would do as a politician (literally and figuratively). I think this has already been factored into the market.

To: rupert1 who wrote (31885)	8/30/1998 4:59:00 PM
From: Loki	Read Replies (1) \| Respond to of 97611

vepoc...Thank you for your European (English?) perspective. Sounds somewhat bullish... From which sources are you drawing your conclusions about this situation? Any web links? For H.K. I often use scmp.com Your statement concerning Germany is interesting. Historically, this was certainly the case. Scare people concerning communism. However, presently, it is very much to their economic benefit not to loose touch with Russia. German corporations have a tremendous investment presently in progress in Russia. They would stand to gain the most from supporting the Russian economy and its infrastructure. "The UK and Austria and France are taking leading roles in building a European and American alliance" --- Please explain........Austria???? "But it is hard to believe that Japan has not been woken up by now." Not really...(as mentioned last winter I was on the Board of a Japanese company)...It has been my experience that Japanese decision making is sometimes mired in paralysis. The fear of making an incorrect decision, loosing face, or taking a non traditional approach often precludes management from making any decision at all. (This is my observation as an European now living in the USA) I also believe what you stated in your last paragraph. Unfortunately, I cannot give you my opinion yet..."Sunday night sentiment". I just came back from vacation. It appears Hurricane "Bonnie" hit my investment portfolio. Ouch!!! Thank you for the insight. Loki

To: rupert1 who wrote (31885)	8/30/1998 5:42:00 PM
From: S.C. Barnard	Read Replies (1) \| Respond to of 97611

>>The fact that the communists in Russia are not entirely pleased with the national recovery plan should be bullish in the West; the communist will not be able to agitate the Russian masses.<< Just heard on National Public Radio News on my car radio(http://www.npr.org/) that Communists have voted against Chernyomyrdin (sp.?) and the reporter from Russia did not know what Clinton and Yeltsin honestly would now have to talk about. Bullish for the west? Sounds like tankage to me.